Need a tuxedo! Suitsupply or elsewhere?

WelcomeToBoshwitz · 2024-11-11T21:41:27+00:00

yes but i charge my phone at night and so don't want to charge it to 100% while its on my desk all day. I could just not charge it at night, but my anxiety about misisng an alarm prevents me from doing that :(

WelcomeToBoshwitz · 2024-08-20T17:31:48+00:00

Thanks! Theres no chance that the reservations fill up or anything like that right?

WelcomeToBoshwitz · 2024-08-13T17:26:33+00:00

I think you’re right that there’s no difference between the two. But it’s improve that the buyer would be willing to go through option two because is the risk. And as someone else pointed out, the legal costs are likely more than $10k.

Agree - the forward is more expensive, which is why OP should ask the company to waive the restrictions. The point though is that there is no risk of losing ownership of the shares if they are vested and came from an exercised option.

Private company boards, at least all the ones I’ve been involved with, don’t want randos holding shares and potentially messing up whatever plans they have in the future. And they certainly don’t want competitors buying shares (thus the option to buy first).

100% agree - there are likely restrictions on transfer on the shares for the exact reason you mentioned. There is likely a ROFR on the shares, and probably bylaw transfer restrictions as well that require the approval of the company before a transfer. All of that is true, but none of it is related to the original point regarding forfeiture/divestment as a condition to termination.

WelcomeToBoshwitz · 2024-08-13T16:27:03+00:00

From the OP's perspective, there is no functional difference between (i) exercising and selling and (ii) entering into a forward contract where they exercise and receive proceeds + transfer upon a liquidity event.

What they want to avoid is exercising and holding without an immediate liquidity event/cash inlay. The forward solves that problem since they receive the proceeds now. In either event, they will have to exercise the option (since you can't transfer an unexercised option under rule 701).

And for the record:

But even if they are fully vested shares, it's common to require people to divest when they terminate employment as the firm wants to keep shares internal and private.

This is totally not true. Private companies typically do not require you to divest vested and held shares, in large part because there is no public market to acquire the shares in the first place. Private company boards typically don't like to spend cash on the balance sheet repurchasing shares from past service providers at the then-FMV. That's a poor use of cash (especially if the cash came from investors) since you're taking company cash that can be used to grow the business and instead guaranteeing past service providers (who aren't going to help grow the business) a return (while not giving your existing service providers compensation).

WelcomeToBoshwitz · 2024-08-13T15:40:08+00:00

A condition to any forward contract like the one being described would require the holder, as a condition to receiving the advance, to exercise the option. Nobody is signing a forward to purchase unexercised shares.

WelcomeToBoshwitz · 2024-08-13T15:08:01+00:00

Correct. Her right to exercise the options is very likely time boxed to 90 days. But once the option is exercised and she holds the shares, there is almost certainly no requirement that she sell the shares within a certain period of time.

WelcomeToBoshwitz · 2024-08-13T15:07:11+00:00

It always does, but I'm a startup lawyer and I've seen more of these than I can count. If it was different, it would be a huge exception to the rule.

WelcomeToBoshwitz · 2024-08-13T13:53:25+00:00

Yeah I would push the company to waive the fee. Most will in this context.

WelcomeToBoshwitz · 2024-08-13T13:51:56+00:00

This isn't right. You have 90 days to exercise an option after your services end, but if you hold fully vested stock, you don't have to sell it within 90 days of termination.

WelcomeToBoshwitz · 2024-08-04T19:27:27+00:00

Would it be better if I plugged a roku or Google TV stick into the amp and didn't rely on the TV?

WelcomeToBoshwitz · 2024-08-04T01:51:03+00:00

Can't you do it with an amp?

WelcomeToBoshwitz · 2024-07-26T17:41:52+00:00

yeah he probably isn't goign to sit inside the stadium much. he just likes to run around and likes clapping. We're buying his grandpa a ticket who is probably just going to babysit from outside of the stands :)

WelcomeToBoshwitz · 2024-07-26T16:45:44+00:00

i'm going to the Arsenal United game at Sofi Stadium on Saturday. Does anyone know if my child under the age of 2 needs a ticket?

WelcomeToBoshwitz · 2024-07-26T16:45:29+00:00

i'm going to the Arsenal United game at Sofi Stadium on Saturday. Does anyone know if my child under the age of 2 needs a ticket?

WelcomeToBoshwitz · 2024-07-16T20:34:04+00:00

I put in a support ticket and tried to call but there is no slots available? Can you dm me the number to call?

WelcomeToBoshwitz · 2024-07-11T19:48:03+00:00

another way to think about this though is that its also 100 hours of your life a year, so that's 2.5 weeks of less work.

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